Decrease in Operating Cash Flow Due to an Increase in Inventory
First written in FY2018-Q2. 12 of 22 entries say "Worsened", first in FY2020-Q2. Latest entry: FY2026.
Glory moved to the "Worse" side of this theme in 2022, 3 years before the typical company in this theme (2025).
The whole theme swung hardest in 2018: 4 of 22 companies on the "Worse" side.
4 other companies' latest entry also says "Mitigated".
- FY2026MitigatedAnnual report
「Net cash provided by operating activities was ¥42,780 million (¥51,310 million in the previous fiscal year). This was mainly due to cash inflows from profit before tax of ¥24,657 million, depreciation and amortization of ¥20,394 million, and a ¥7,586 million decrease in inventories, partly offset by cash outflows including ¥7,136 million in income tax payments.」
The decrease in inventories contributed ¥7,586 million to cash flow, improving the situation from the pressure on cash flow caused by rising inventories. Net cash provided by operating activities was ¥42,780 million. - 2026-05-15MitigatedEarnings
「The main factor was a ¥4,207 million decrease in inventories.」
Inventories decreased by ¥4,207 million from the end of the previous fiscal year, easing the inventory burden from the level at the time of the previous disclosure. - FY2026-H1WorsenedAnnual report
「Net cash provided by operating activities was ¥12,637 million (¥8,103 million in the same period of the previous year). This was mainly due to cash outflows from an increase in inventories of ¥5,622 million and payments of ¥1,565 million in corporate income taxes and other taxes, which were more than offset by cash inflows from a ¥10,697 million decrease in trade receivables, ¥7,827 million in depreciation and amortization, and interim net income before taxes and other adjustments of ¥6,604 million.」
Although overall operating cash flow increased, the ¥5,622 million increase in inventories reduced cash flow, indicating that inventory pressures have resurfaced. - FY2025AdvancedAnnual report
「Net cash provided by operating activities was ¥45,752 million, compared with ¥41,854 million in the previous fiscal year. This reflected cash outflows primarily from income taxes paid of ¥18,978 million, offset by cash inflows from a ¥20,458 million decrease in trade receivables, depreciation and amortization of ¥15,339 million, amortization of goodwill of ¥8,694 million, and a ¥15,497 million decrease in inventories, among other factors.」
Operating cash flow increased from ¥41,854 million to ¥45,752 million, and inventories became a ¥15,497 million source of cash. - FY2025-H1MitigatedAnnual report
「Net cash provided by operating activities was ¥8,103 million, compared with net cash used of ¥1,239 million in the same period of the previous year. This reflected cash outflows primarily from income taxes paid of ¥11,445 million, offset by cash inflows from a ¥14,243 million decrease in trade receivables and depreciation and amortization of ¥6,999 million, among other factors.」
Operating cash flow shifted from a ¥1,239 million outflow in the same period of the previous year to an ¥8,103 million inflow. Inventories also shifted from a ¥15,139 million use of cash in the same period of the previous year to a ¥3,453 million source of cash. - FY2024-Q3WorsenedAnnual report
「Total assets increased by ¥47,937 million from the end of the previous consolidated fiscal year to ¥429,210 million. The main factors were increases of ¥28,260 million in notes and accounts receivable, accounts receivable, and contract assets, and ¥21,003 million in inventories.」
Inventories increased by ¥21,003 million from the end of the previous consolidated fiscal year, increasing the inventory and working capital burden. - FY2024-Q2WorsenedAnnual report
「Net cash used in operating activities was ¥1,239 million, compared with ¥16,019 million in the same period of the previous year. This reflected cash inflows primarily from quarterly profit before income taxes of ¥14,140 million, depreciation and amortization of ¥6,346 million, and amortization of goodwill of ¥3,480 million, among other factors, offset by cash outflows from increases of ¥15,139 million in inventories and ¥12,173 million in trade receivables, among other factors.」
The operating cash outflow narrowed from the same period of the previous year, while the cash outflow due to the increase in inventories was ¥15,139 million. Inventories on the balance sheet had also increased by ¥21,120 million from the end of the previous fiscal year, indicating that the inventory and working capital burden continued. - FY2024-Q1WorsenedAnnual report
「Total assets increased by ¥18,625 million from the end of the previous consolidated fiscal year to ¥399,899 million. The main factors were increases of ¥13,616 million in inventories and ¥2,161 million in notes and accounts receivable, accounts receivable, and contract assets.」
Inventories at the end of the first quarter had increased by ¥13,616 million from the end of the previous consolidated fiscal year, indicating that the inventory and working capital burden remained. - FY2023WorsenedAnnual report
「Net cash used in operating activities was ¥16,486 million, compared with net cash provided of ¥10,315 million in the previous fiscal year. This reflected cash inflows from depreciation and amortization of ¥11,762 million and amortization of goodwill of ¥6,703 million, among other factors, offset by cash outflows of ¥6,540 million for income taxes and ¥25,569 million due to an increase in working capital, among other factors.」
Operating cash flow shifted from an inflow in the previous fiscal year to a ¥16,486 million outflow. The increase in inventories was ¥21,902 million according to the statement of cash flows, indicating a greater working capital burden. - FY2023-Q3WorsenedAnnual report
「Total assets increased by ¥6,566 million from the end of the previous consolidated fiscal year to ¥369,836 million. The main factors were a ¥19,743 million decrease in cash and deposits and a ¥26,941 million increase in inventories.」
Inventories increased by ¥26,941 million from the end of the previous consolidated fiscal year, further increasing the inventory and cash burden associated with difficulty procuring parts and production impacts. - FY2023-Q2WorsenedAnnual report
「Net cash used in operating activities was ¥16,019 million, compared with net cash provided of ¥8,861 million in the same period of the previous year. This reflected cash inflows, primarily from a ¥12,260 million decrease in trade receivables, offset by cash outflows from a ¥17,621 million increase in inventories and a ¥5,405 million quarterly net loss before income taxes, among other factors.」
Operating cash flow shifted from an inflow in the same period of the previous year to a ¥16,019 million outflow, while the use of cash due to the increase in inventories widened to ¥17,621 million. - FY2023-Q1WorsenedAnnual report
「The main factors were decreases of ¥4,263 million in cash and deposits and ¥7,621 million in notes and accounts receivable, accounts receivable, and contract assets, and increases of ¥16,384 million in inventories and ¥6,811 million in goodwill.」
Inventories increased by ¥16,384 million from the end of the previous consolidated fiscal year, with the disclosure noting a greater inventory and cash burden against a backdrop of difficulty procuring parts and other factors. - FY2022-Q3WorsenedAnnual report
「Total assets increased by ¥16,730 million from the end of the previous consolidated fiscal year to ¥347,338 million. The main factors were a ¥13,187 million decrease in cash and deposits and increases of ¥16,388 million in inventories and ¥14,017 million in goodwill.」
Inventories increased by ¥16,388 million from the end of the previous consolidated fiscal year, increasing the cash burden from higher inventory once again. - FY2022-Q2MitigatedAnnual report
「Net cash provided by operating activities was ¥9,085 million, compared with ¥564 million in the same period of the previous year. This reflected cash outflows of ¥3,618 million, primarily for income taxes, offset by cash inflows from profit before income taxes of ¥5,698 million, depreciation and amortization of ¥5,625 million, and amortization of goodwill of ¥2,424 million, among other factors.」
Operating cash flow increased from ¥564 million in the same period of the previous year to ¥9,085 million. The use of cash due to inventories also narrowed from ¥7,901 million to ¥4,987 million. - FY2021MitigatedAnnual report
「Net cash provided by operating activities was ¥28,753 million, compared with ¥25,062 million in the same period of the previous year. This reflected a ¥5,088 million cash outflow for income taxes, offset by cash inflows from profit before income taxes of ¥12,966 million, depreciation and amortization of ¥10,706 million, and amortization of goodwill of ¥4,502 million, among other factors.」
Operating cash flow increased from ¥25,062 million in the previous year to ¥28,753 million, while inventories shifted from being a use of cash in the previous year to a ¥2,823 million source of cash in the current year. - FY2021-Q3WorsenedAnnual report
「The main factors were increases of ¥11,326 million in goodwill and ¥10,186 million in inventories, and decreases of ¥17,961 million in cash and deposits and ¥4,312 million in notes and accounts receivable.」
Inventories at the end of the third quarter had increased by ¥10,186 million from the end of the previous consolidated fiscal year. Although no statement of cash flows was prepared for the nine-month period, the burden from higher inventory remained. - FY2021-Q2WorsenedAnnual report
「Net cash provided by operating activities was ¥564 million, compared with ¥10,266 million in the same period of the previous year. This reflected cash outflows of ¥1,881 million for income taxes and ¥397 million due to an increase in working capital, among other factors, offset by cash inflows from depreciation and amortization of ¥5,101 million, among other factors.」
Operating cash flow fell substantially from ¥10,266 million in the same period of the previous year to ¥564 million. The statement of cash flows shows a ¥7,901 million use of cash due to the increase in inventories, indicating a greater burden from higher inventory. - FY2020ReframedAnnual report
「Net cash provided by operating activities was ¥25,062 million, compared with ¥24,300 million in the previous consolidated fiscal year. This reflected a ¥6,998 million cash outflow for income taxes, offset by a ¥3,488 million increase in cash from a decrease in working capital and cash generated by securing stable profits, among other factors.」
Operating cash flow increased, and working capital as a whole became a source of cash. Meanwhile, the consolidated statement of cash flows lists a ¥3,341 million increase in inventories as a use of cash, indicating that the disclosure has been organized around working capital as a whole rather than inventories alone. - FY2020-Q2WorsenedAnnual report
「Net cash provided by operating activities was ¥10,266 million, compared with ¥4,433 million in the same period of the previous year. The main components of operating cash flow were, as uses of cash, an increase in inventories of ¥6,929 million and income taxes paid of ¥3,034 million, and, as sources of cash, profit before income taxes of ¥8,186 million, depreciation and amortization of ¥4,850 million, and a decrease in trade receivables of ¥8,501 million.」
Operating cash flow increased year on year, while the use of cash due to the increase in inventories widened from ¥3,706 million in the same period of the previous year to ¥6,929 million. - FY2019MitigatedAnnual report
「Net cash provided by operating activities was ¥24,300 million, compared with ¥14,585 million in the previous consolidated fiscal year. The main components of operating cash flow were, as uses of cash, an increase in trade receivables of ¥2,317 million, a decrease in trade payables of ¥3,247 million, and income taxes paid of ¥5,357 million, and, as sources of cash, profit before income taxes of ¥20,562 million, depreciation and amortization of ¥8,945 million, amortization of goodwill of ¥3,622 million, and a decrease in inventories of ¥3,808 million.」
Operating cash flow increased from ¥14,585 million in the previous year to ¥24,300 million, and inventories shifted from a use of cash to a source of cash. - FY2019-Q2MitigatedAnnual report
「Net cash provided by operating activities was ¥4,433 million, compared with ¥2,505 million in the same period of the previous year. The main components of operating cash flow were, as uses of cash, an increase in inventories of ¥3,706 million, a decrease in trade payables of ¥1,586 million, and income taxes paid of ¥2,344 million, and, as sources of cash, profit before income taxes of ¥6,956 million, depreciation and amortization of ¥4,377 million, and a decrease in trade receivables of ¥4,279 million.」
Operating cash flow increased from ¥2,505 million in the same period of the previous year to ¥4,433 million, while the use of cash due to the increase in inventories narrowed from ¥6,584 million to ¥3,706 million. - FY2018-Q2First statedAnnual report
「Net cash provided by operating activities was ¥2,505 million, compared with ¥12,064 million in the same period of the previous year. The main components of operating cash flow were, as uses of cash, an increase in inventories of ¥6,584 million and income taxes paid of ¥3,184 million, and, as sources of cash, profit before income taxes of ¥4,750 million, depreciation and amortization of ¥4,640 million, amortization of goodwill of ¥2,006 million, and a decrease in trade receivables of ¥2,642 million.」
Operating cash flow decreased from ¥12,064 million in the same period of the previous year to ¥2,505 million, with the ¥6,584 million increase in inventories cited as a primary use of cash.